Chelsea State Bank Promotes Schaible, Stubbs

The Board of Directors of Chelsea State Bank recently announced the promotion of David Schaible to President and Jessica Stubbs to Chief Financial Officer of the Bank.

“It brings me great pleasure to announce these promotions,” stated Chelsea State Bank CEO John Mann. “As a third-generation Schaible, Dave has a rich historical link to our Bank and is a consummate banker. Jessica has been with us for seven years now and has demonstrated excellent leadership and financial management skills.”

David Schaible

Dave Schaible

Schaible began his career at Chelsea State Bank in 1985 and worked his way through the ranks including Security Officer, Personal Loan Officer, Investment Officer, and Head of Retail Banking. He was elected to the Board of Directors in 2005 and attained his most recent position of Executive Vice President and Chief Financial Officer for the Bank in 2011.

A lifelong resident of Chelsea, Schaible graduated from Chelsea High School and obtained his bachelor’s degree in Economics from Albion College. He is a longstanding member and past president of Chelsea Kiwanis Club and serves on their Board of Directors. He also serves on the Board of Chelsea Community Foundation.

“Dave’s father, Paul Schaible, Jr. was President before me, and hired me in 1988 and was Chairman of our Board until 2005, explained Mann. “Dave’s grandfather, Paul Schaible, Sr. was the organizer of the Farmers and Merchants Bank in 1908, and it is said that he traveled the countryside in horse and buggy to secure investors for the Bank. He became the first President of Chelsea State Bank after the two Chelsea banks merged in 1934.

“Family history aside, Dave has done an outstanding job for Chelsea State Bank throughout his long career,” continued Mann. “As his responsibilities increased, so did his performance. He knows the business of banking, including the importance of customer service and looking out for the community. I look forward to working with him in the future.”

Jessica Stubbs

Jessica Stubbs

Stubbs joined Chelsea State Bank in 2011 as Assistant Vice President and Compliance Officer, and was promoted to Vice President in 2014. She is a Certified Public Accountant and has over 18 years of experience with financial institutions, beginning as a teller in a community bank and progressing to vice president. Stubbs also worked as an audit manager at an accounting, tax and business consulting firm.

After graduating from Albion College with a bachelor’s degree in Economics and Management, Stubbs earned her CPA license in 2013. In the community, Stubbs is the treasurer of Christian Fellowship Bible Church. She is also a member of the American Institute of Certified Public Accountants and the Michigan Association of Certified Public Accountants.

“Jessica is tremendously talented and possesses the skills and knowledge to help lead Chelsea State Bank with the ever-changing legislation and regulations in our industry,” said Mann. “We have an outstanding team of individuals at our Bank, and moving Dave into his role as President and Jessica into her role as Chief Financial Officer prepares us well for our future as we grow Chelsea State Bank.”

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